The New Orleans Saints are the 23rd most valuable franchise in the NFL with an estimated value of $971 million, according to an annual report by Forbes Magazine.

The Saints were ranked No. 21 in the 2011 rankings when their estimated value was $965 million.

Every NFL franchise except the Cincinnati Bengals increased in value from last season. New TV contracts, the collective bargaining agreement signed last year that will last a decade, and higher premium seating revenue contributed to the increases.

The Dallas Cowboys were No. 1 with an estimated value of $2.1 billion. The rest of the top five: New England ($1.635 billion), Washington ($1.6 billion), the New York Giants ($1.468 billion) and Houston ($1.305 billion)